Nickel-based Batteries For Electric Vehicles Market Share

Market Share of Nickel-based Batteries For Electric Vehicles Industry

The nickel-based batteries for electric vehicles market is moderately consolidated. A few prominent companies include Panasonic Holdings Corporation, FDK Corporation, Energizer Holdings Inc., GS Yuasa International Ltd, and EnerSys. Several companies in the market are focusing on improving their product portfolios to widen their customer base. Some other key players aim to expand their presence in the market through product launches, offerings expansion, manufacturing expansion, and collaborations with other companies. For instance,

• In October 2023, LG Energy Solution and Toyota Motor Corporation signed a long-term deal for Nickel-based lithium-ion battery modules to power Toyota's electric vehicles in the United States. Starting in 2025, LG Energy Solution will supply 20 GWh annually, investing USD 3 billion in the endeavor. The high-nickel NCMA pouch-type cells will be produced at LG Energy Solution's Michigan facility.
• In September 2023, Atlas Materials successfully secured USD 27 million in funding for the electric vehicle nickel-based batteries. This financial support comes ahead of the startup's plans to construct a manufacturing plant in North America. Atlas, headquartered in the United States, targets the commencement of large-scale production at one of three potential locations in Canada or the United States by 2027, aiming for an annual nickel output of 1,800 metric tons.

Nickel-based Batteries For Electric Vehicles Market Leaders

1. Panasonic Holdings Corporation

2. GS Yuasa International Ltd.

3. EnerSys

4. Energizer Holdings Inc.

5. Duracell

*Disclaimer: Major Players sorted in no particular order